Furniture maker Poh Huat 3Q earnings up 22%

PETALING JAYA – The Malaysian furniture industry appears to be winning in the trade war between the US and China as orders are now moving from China to Southeast Asia.

The third-quarter net profit rises 22.5% to RM11.27 million from RM9.2 million the previous year while earnings per share for the quarter ended July 31, 2019, rose to 5.09 sen from 4.19 sen previously.

Poh Huat said the protracted tariff war has resulted in the shift in the global supply chain that favored several countries in the Southeast Asia Region.